Thursday, August 30, 2018

Govt directs RBI to prepare scheme for PSB merger

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Government has directed the RBI to prepare a list of candidates for merger among 21 government-controlled lenders as it seeks to strengthen a banking system laden with bad debt.

In a meeting this month, finance ministry officials also asked the Reserve Bank of India to suggest a time frame for the consolidation. The move is aimed at creating fewer, better-capitalized lenders and improving regulatory oversight.

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